Business Succession Planning with Key Person Coverage and Buy-Sell Agreements
You put maximum effort into establishing and running your business. But are you taking the right steps to make sure your business can survive the retirement, disability, or death of an owner or key employee? When these events occur, your business may be significantly impaired or forced to close in a relatively short period of time, not because you did something wrong, but because you did nothing.
Few owners even know what their business is worth or have planned for the eventual transfer of their business interests. This is not surprising considering they have to focus on maintaining profitability. Business succession planning is crucial to ensure the successful transfer of your company or business interests. This brochure will discuss stabilizing and maximizing the value of a business and transferring it to the parties desired under specified, controlled circumstances.
It is designed to help you retain control of your business and to assure that funds will be available to provide maximum financial flexibility in the event of retirement, death, or disability, or if you leave the business